“With shares of technology giant Apple trading close to their all-time highs, I continue to get questions about when investors should buy the stock. Everyone wants to know when the next pullback will come, as they are afraid of buying the stock right before a decline,” Bill Maurer writes for Seeking Alpha. “Well, one of Apple’s worst trading weeks is coming up, which is rather strange since it usually is a time that showcases the best Apple has to offer.”
“Next week, Apple will hold its annual Worldwide Developers Conference, known as WWDC, from June 5th to 9th,” Maurer writes. “WWDC week is one of Apple’s worst weeks for shareholders. While there’s no one specific reason why, my guess is that it’s along the lines of ‘buy the rumor, sell the news.'”
“There are always so many rumors that come out before WWDC that don’t materialize, making some consumers and investors unhappy,” Maurer writes. “This year, for example, investors may be disappointed if Apple holds off the launch of the Siri smart speaker until this fall. I put together the chart below showing how Apple shares do during WWDC week, and the results may be surprising.”
Read more in the full article here.
MacDailyNews Take: Too many casual investors don’t understand WWDC is about software. That’s why WWDC has traditional been a good time to buy on the dip.
That said, we’d like to see some new hardware during or around WWDC this year, including Apple’s rumored Siri Speaker and, especially, the 10.5-inch iPad Pro units which we’re hoping to get ASAP!